401(k) Calculator
Project your 401(k) balance at retirement with your contributions and employer match
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Projects your 401(k) balance at retirement from your current balance, salary, contribution percent, employer match, yearly raises and an expected return. It splits the result into your contributions, employer contributions and investment growth.
How to use
- Enter your "Current age", "Retirement age", "Current 401(k) balance" and "Annual salary".
- Enter "Your contribution" as a percent of salary and the "Expected yearly raise".
- Under "Employer match", enter the percent the employer matches and the "Up to" percent of salary it applies to.
- Set the "Expected annual return" and, if you want a cap, this year's IRS limit under "Yearly limit on your contributions".
- Read the "Estimated balance at retirement", the "Balance over time" chart and the "Year by year" table, which you can save with "Save as CSV".
How it works
- Each year your salary grows by the raise and you contribute your percent of it. The employer adds its match percent of your contribution, counting only contributions up to the "Up to" percent of salary.
- Contributions go in monthly and grow at the expected return, compounded monthly.
- No IRS limit is built in, because it changes most years. Taxes, fees, vesting, catch-up contributions and inflation are not included. This is an estimate based on your assumptions, not investment advice.
Questions and answers
- How does a 401(k) employer match work?
- The employer adds a share of what you put in, up to a percent of your salary. A 50% match up to 6% on a 70,000 salary adds at most 2,100 a year, and only if you contribute at least 6%.
- How much will my 401(k) be worth when I retire?
- It depends on your contributions, the match, raises, the years left and the return you assume. Enter your own numbers to see an estimate and how much of it comes from growth.
- What is the 401(k) contribution limit?
- The IRS sets a yearly limit and changes it most years, so the tool does not include a figure. Enter the current limit yourself; the table highlights the years in which you reach it.
- Does contributing a higher percent make a big difference?
- Each extra percent is invested for every remaining year, so the effect grows with time. Change "Your contribution" and compare the estimated balance.